I don't think that is the right approach to look at it. Some loans can only be repayed within six months or less so you need not to annualise it. Even for Stima sacco, their Omega Advance is charged at 5% per month. So it is important to compare like for like.

In addition, a SACCO is a member owned institution and so in addition to interest earned/rebates for deposits and shares and interest rates for loans and advances, sound management practices should also be reviewed when one wants to join the SACCO. This include strategic plan, board composition, profitability and many more.

Ease of getting guarantors should also be part of considerations, while looking for a sacco.

No need to save and yet you cannot get people to guarantee you when you want to borrow.

If you are a "Foreigner" in a Sacco, always attend their Education days, and End Year meetings to meet new friends, who will/may eventually help).

Stima, Unaitas top saccos as sector assets hit Sh335bn
Saccos grew their assets by 14.2 per cent last year with Stima and Unaitas the star performers driven by enrolment of new members.
Latest data from Sacco Societies Regulatory Authority (Sasra) shows assets of the co-operatives stood at Sh335 billion in December compared to Sh293 billion an year earlier.
The growth was driven by increase in membership to 3.3 million members from 2.97 million.
“This growth was mainly funded by member deposits, share capital and retained earnings,” said chief executive Carilus Ademba.
Stima Sacco nearly doubled its membership, to 26,468, which saw it rise to be the third largest union — after teachers’ sacco Mwalimu and Harambee for civil servants — with an asset base of Sh12.4 billion, an increase of Sh3 billion.
Unaitas, which has declared intention of converting into a bank, increased its membership by 32,000 to 146,964 going up three places to rank eighth with an asset base of Sh5.5 billion, from Sh3.9 billion.
Savings made through the co-operatives stood at Sh240 billion from Sh213 billion. Saccos loaned out Sh251 billion compared to Sh221 billion a year earlier.

http://www.businessdaily...0/-/cfavm5/-/index.html

That would otherwise be described as a pyramid scheme. The returns you've stated that is. I am not aware of the SACCO and its activities or financial reports. However, that is highly unlikely if their business is legit.

@mayai.Goodlife is headquartered in the Former Akamba House and is hardly 3years since inception.From reliable sources they are on a recruitment overdrive with membership being open to Tom,dick and Harry.As to theirs legitimacy the last time I checked SASRA list Goodliife were missing.